My contention is that the info on the NSE daily price lists is wrong. It is not exactly the first time that they have been wrong.

I REST MY CASE.

When is the AGM...the book closure date for the split can only be after the AGM once it has bn approved by shareholders

[quote=mwanahisa

[/quote]

My contention is that the info on the NSE daily price lists is wrong. It is not exactly the first time that they have been wrong.

I REST MY CASE.


I have been following the discussion on this thread for a few days now but could'nt comment as I wasn't registered yet.

I tend to agree with "Mwanahisa' that, the information on the nse daily price list is wrong about the split date and this has the potential of frying the buyers into this stock between 16th March - 30th March when some investors think will be the closing day for the split.
If you refer to the nse daily Price list for the period of the split accouncement to 10th March they all state the books closure for the dividend and the share split was 15th March but the price list from 14th March changes to read that the share split date is 30March. I tend to think this is an editing error that will cost anyone dearly whoever will be investing in this stock b/n the said period.
I have some BBK shares and on 14March got an alert from 2372 CDSC alert stating that the books closure for the split is 15March.
Please go to the following link at the nse that has the BBK announcement on the split and read page 6 and you will clearly see that the split date was 15March. Anyone buying post that date is buying them ex split and the price soult be around 17/-bob. [color=blue]http://www.nse.co.ke/newsite/pdf/YEAR%202011/Announcements/BBK%20Results%20FY%202010.pdf
My word of advice:
> For those holding shares bought b4 15th March- SELL @ around 60/- and make a killing as you will still receive the additional split shares equivalent to 3times waht you've got.
>For those who bought after 15th March- SELL and avoid a financial ctastrophe-
>For those wishing to get into this share- WAIT UNTIL THE PRICE GOES SUB 20/- BOB

Additionally I dont think a Co' would would have 2 book closure dates for announcements relating to the same period. Register of BBK shares was closed on 16th March to book the div's and split and dont see them closing it again on 30th March.

My 2 pence
Take care

@Tuition. What you have stated above (quoted below) is not correct. If you sell your shares now, you will NOT get the split shares. Pure and simple. Share goes ex-split on 31.05.11. For those in doubt call the Barclays Company Secretary or their Registrars. I believe, these are Custody and Registrar Services at Bruce House.

@mwanahisa suppose I had 1000 BBK shares, after the split am entitled to 4000 BBK shares after the split.
Suppose I sell 1000 on 1-Jun-2011 will I still remain with my 3000 shares to sell on 13-Jun-11 when the split will be available for sale?

Tuition, I have already stated that the NSE is giving wrong information regarding the split dates. See my earlier posts where I quote the BBK circular issued by the BBK Company Secretary. I got this from the NSE Trading desk and I am not sure why the NSE has not posted it on its website. Barclays also does not seem to have an Investors Page for the Barclays operation.

@Tuition you are right on 15-Mar-11 being the deadline for share split.
But are you right on pre 14-Mar-11 shareholders selling them at 60 and make a kill and still hope to get the remainder portion of the split?

@Mwanaisha what will be the share price of BBK on 1-Jun-11?Willl it be (68/4=17) or some 59.50 as of say today's price?

And why do you insist on 31-May-11 as the deadline for this while its clear that the share split will be available for trading on 13-Jun-11 (as per sic!sic!sic! NSE excel sheet)

@Impunity. I am neither the spokesperson for Barclays nor for the NSE, but as I appear to have the information I thought I had better share it, but you can see it is all becoming rather tiring. Thus the knocking my head on the wall.

Let me try again:

1.May-30-2011 - Last Date for share to trade cum-split. As long as you buy the share on any day upto May 30th, you will be entitled to the split.

2.May-31-2011 - Share starts trading ex-split. Presumably, the price will be 1/4th of the price ruling on 30-05-11, but it could be slightly different based on how people interpret the change in the status of the share. If the price is 60 on 30th May, then we would expect the share to trade at 15.

3.June-13-2011 - Split shares become available. If you sold your 1,000 shares on 31st May, on 1st June you would have ZERO shares showing on your CDS account but on June 13th, you will have 3,000 shares. If you had taken no action after 30th May, 3,000 new shares will have been added to your 1,000 on 12-06-11 (after the market closes) and you will have a total of 4,000 shares on 13-06-11.

Hope this is clearer.

Impunity wrote:
@Tuition you are right on 15-Mar-11 being the deadline for share split.
But are you right on pre 14-Mar-11 shareholders selling them at 60 and make a kill and still hope to get the remainder portion of the split?


Taking it that the book closure for the split was 15 March. Then it follows that;
On the 16th March:

Assuming you had 1000 shares of Sh2/- bought @ say 68/-

Your shares wil 1000X4=4000 Shares ofsh 0.5/-

The shares available to you for trading until the crediting of your CDS a/c remains 1000.
My understanding is that if you sell the 1000 Shares now your CDS a/c will sitll be credited with the 3000 additional shares since you sold them ex split. Same as in the case of someone who had shares on the 15Th March and sold them on the 16th March will still get the dividend on the shares sold ex div.

Out of interest, was there another circular from BBK after the one on NSE website dated 22 Feb not in the public dormain? That would be extremely confusing just as the NSE price lists are on this.
I will now wait for the facts to play out b4 another comment on this.